In 1995 1/2 ounces of panda coins, is a more complex varieties。There are 4 versions in SD （shenyang)Also have 4 versions in LD (shanghai)My writing In Baoquan Forum is not perfect, because there will be continuously found. If you want to know more, can give me a message. Very happy to discuss with you。575890703@qq.com

In 1995 1/2 ounces of panda coins, is a more complex varieties。There are 4 versions in SD （shenyang)Also have 4 versions in LD (shanghai)My writing In Baoquan Forum is not perfect, because there will be continuously found. If you want to know more, can give me a message. Very happy to discuss with you。575890703@qq.com

I can confirm LD var-B as in 2759267-001 to -010 and 2782594-020. I can also see LD var-C such as 3162227-089 and 3559116-007. They are pretty hard to find, but the 1995 S5Y panda population is dominated by large submission, presumably dealers bought sheets of them and submit them en masse. The rarity maybe biased by a common source for many large dealers. Var B and C tend to be small size submission. It is a lot of data to plow through and I'm not even done with ms68, but my feeling is that combined B+C is about 1 in 20.

I completed my search of 283 large date 1995 S5Y. Of 283 coins searched, there are 38 var-B+var-C, or roughly 1 in 8. Var-B is harder to find, there are 13 out of 38. There are 25 var-C out of 38.

I'm very interested in the current opinions in China regarding what is considered a variety. Leaves-in-front and Leaves-behind-branch should be considered as varieties because the differences can only be achieved at the master die level. But what about the various frosting variations and mirrored/frosted appearance?

I attached six pictures below for your consideration. First three are leaves-behind-branch, first is frosted, 2nd is mirrored, and 3rd is short bamboo. The last three are leaves-in-front, first is thick fur as discussed by Gilmore, 2nd is V fur as discussed by NumiKat, 3rd is V fur with hole in leaves cluster.

Edit: The fourth picture is incorrectly attributed. It should be NGC 2759267-004. My apology

I'm very glad to meet you here.I think, first and 2nd,they are the same template,the difference between them lies in the sandblast,one light one heavy.So I think the same reason of fifth and sixth.I think it is actually something fundamentally different of third and fourth .